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On january 1, 2014, tonika corporation issued a four-year, $11,400, 7% bond. the interest is payable annually each december 31. the issue price was $10,468 based on an 8% effective interest rate. assuming the effective-interest amortization is used, and rounding calculations to the nearest whole dollar, which of the following journal entries correctly records the 2014 interest expense?
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On january 1, 2014, tonika corporation issued a four-year, $11,400, 7% bond. the interest is payable...
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